Economy

• Friday, November 25th 2011 - 01:05 UTC

  Argentina officially declares “Uruguay is no tax haven” and disagrees with Sarkozy

  

  The Argentine ambassador in Uruguay, Dante Dovena said this week that French president Nicholas Sarkozy statement at the G20 summit, in reference to Uruguay (as a tax haven) is not shared by his government.

• Thursday, November 24th 2011 - 22:57 UTC

  Mercosur calls on Doha Round for an end of all farm export incentives by 2013

  

  Agriculture ministers from Mercosur full members plus Chile and Bolivia, as members of the Agriculture Council of the South, CAS, urged a quick conclusion of the World Trade Organization Doha Round negotiations to help combat poverty and ensure food security.

• Thursday, November 24th 2011 - 15:18 UTC

  Chilean economy slows down as the mining sector contracts 6.5% in third quarter

  

  Chile's economy grew a seasonally adjusted 0.6% in the third quarter from the second quarter of 2011, slowing from a downwardly revised 1.3% in the previous quarter.

• Thursday, November 24th 2011 - 14:50 UTC

  Brazil prepared to lower rates to prop the economy, said President Rousseff

  

  Markets expect Brazilian policy makers will accelerate the pace of interest rate cuts after President Dilma Rousseff said at an event in Brasilia on Wednesday that the country can and is prepared “to use monetary policy” to combat the effects of Europe’s debt crisis.

• Wednesday, November 23rd 2011 - 23:07 UTC

  WTO cuts world’s export growth to 5.8%; warns on unilateral actions

  

  The World Trade Organization slashed its forecast for the world’s export growth to just 5.8% for the year, down from 6.5%. WTO Director-General Pascal Lamy, in his annual report said that world trade has slowed “considerably” in recent months.

• Wednesday, November 23rd 2011 - 20:37 UTC

  Brazil expects a flat third quarter but a strong recovery by end of the year

  

  The performance of the Brazilian economy during the third quarter “could very well be flat” according to Nelson Barbosa the second most important man behind Guido Mantega in the Finance ministry.

• Wednesday, November 23rd 2011 - 20:33 UTC

  Berlin and Paris again clash over ECB; Euro confidence crisis on German shore

  

  Germany and France again on Wednesday over whether the European Central Bank should take bolder steps to stem the Euro zone debt crisis, with Chancellor Angela Merkel issuing one of her starkest warnings yet against fiddling with the central bank's strict inflation-fighting mandate.

• Wednesday, November 23rd 2011 - 20:23 UTC

  Weaker currency helps Brazil recover strong trade surplus

  

  Brazil posted a trade surplus of 2.355 billion dollars in October, beating forecasts for a third straight month, outpacing imports in the final days of the month following a recovery in global commodities prices.

• Wednesday, November 23rd 2011 - 20:19 UTC

  Global markets slide overwhelmed by negative news

  

  Global markets fell Wednesday after more evidence emerged that the global economy is faltering fast and that the Euro zone is heading for a recession as the debt crisis spreads to the bigger economies like Italy and Spain.

• Wednesday, November 23rd 2011 - 20:07 UTC

  Brazil’s Marfrig deeper in the red but beef division manages turnaround

  

  A slump the Brazilian currency Real landed Marfrig deeper in the red despite an improved operating result, lifted by takeovers and better tailoring its beef operations to a shortage of cattle.